If you choose to put forth a proposal for IVA, you may add a request to continue trading. Whether you will be allowed or not will depends on the fact whether it would be practical to do so. However, if you propose IVA, your business finances may be revealed to your creditors in full. If so, then make sure that the previous problems that are solved reflect on the documents. This will help you prove that your business is still viable.
You can continue trading as normal if you have had assets that you could liquidate. Any creditor would prefer that you continue earning to be able to pay off the debt. So, look in the pros and cons before proposing IVA. Having your finances laid bare would be the last thing you'd want your business to go through.
Hey Jorden!
If you choose to put forth a proposal for IVA, you may add a request to continue trading. Whether you will be allowed or not will depends on the fact whether it would be practical to do so. However, if you propose IVA, your business finances may be revealed to your creditors in full. If so, then make sure that the previous problems that are solved reflect on the documents. This will help you prove that your business is still viable.
You can continue trading as normal if you have had assets that you could liquidate. Any creditor would prefer that you continue earning to be able to pay off the debt. So, look in the pros and cons before proposing IVA. Having your finances laid bare would be the last thing you'd want your business to go through.
Hi,
carol
I think your opinion share here is very informative for me
Thanks ....
You're welcome Jorden :) I am glad I could help. If you have more questions to ask, feel free to do so :)